With January meeting gone, there are eight more Fed meetings scheduled ahead for this year and according to the December projection, the Fed is expected to hike rates by 25 basis points in three of them. The financial market has recently started pricing three rate hikes for the year. Let’s look at the market pricing of the hikes, (note, all calculations are based on data as of 10th March)

March 15th meeting: Market is attaching 11 percent probability that rates will remain at 0.5-0.75 percent, and 89 percent probability that rates will be at 0.75-1.00 percent
May 3rd meeting: Market is attaching 10.5 percent probability that rates will remain at 0.5-0.75 percent, 82 percent probability that rates will be at 0.75-1.00 percent, and 7.5 percent probability that rates will be at 1.00-1.25 percent.
June 14th Meeting: Market is attaching 5 percent probability that rates will remain at 0.50-0.75 percent, 42 percent probability that rates will be at 0.75-1.00 percent, 49 percent probability that rates will be at 1.00-1.25 percent, and 4 percent probability that rates will be at 1.25-1.50 percent.
July 26th meeting: Market is attaching 4 percent probability that rates will remain at 0.50-0.75 percent, 35 percent probability that rates will be at 0.75-1.00 percent, 47 percent probability that rates will be at 1.00-1.25 percent, 13 percent probability that rates will be at 1.25-1.50 percent, and 1 percent probability that rates will be at 1.50-1.75 percent.
September 20th meeting: Market is attaching 2 percent probability that rates will remain at 0.50-0.75 percent, 23 percent probability that rates will be at 0.75-1.00 percent, 43 percent probability that rates will be at 1.00-1.25 percent, 26 percent probability that rates will be at 1.25-1.50 percent, 5.5 percent probability that rates will be at 1.50-1.75 percent, and 0.5 percent probability that rates will be at 1.75-2.00 percent.
November 1st meeting: Market is attaching 2 percent probability that rates will remain at 0.50-0.75 percent, 21 percent probability that rates will be at 0.75-1.00 percent, 40 percent probability that rates will be at 1.00-1.25 percent, 28 percent probability that rates will be at 1.25-1.50 percent, 8 percent probability that rates will be at 1.50-1.75 percent, and 1 percent probability that rates will be at 1.75-2.00 percent.
December 13th meeting: Market is attaching 1percent probability that rates will remain at 0.50-0.75 percent, 9 percent probability that rates will be at 0.75-1.00 percent, 28 percent probability that rates will be at 1.00-1.25 percent, 36 percent probability that rates will be at 1.25-1.50 percent, 20 percent probability that rates will be at 1.50-1.75 percent, 5 percent probability that rates will be at 1.75-2.00 percent, and 1 percent probability that rates will be at 2.00-2.25 percent.
The probability is suggesting,

1st hike of the year in March and the second hike in June. The third one is being priced in December.